CSP DAO Project Review: NFTFY

Published in

Investments & Partnerships

3 min readApr 25, 2021

Nftfy is a decentralized application that provides the fractionalization of Non-Fungible Tokens. It is the trustless way of sharing ownership of NFTs, allowing the connection to all the DeFi functionalities and bringing instant liquidity to the NFT ecosystem.

Nftfy’s permissionless protocol allows anyone to generate ERC20-compliant Fractions fully backed by the NFT. In that way, you would be able to do whatever you want with your Fractions, such as sharing or selling them to friends and partners (Private Offering); or making an IEO through the creation of Liquidity Bootstrapping Pools using Balancer protocol to provide liquidity to your new ERC20s (Public Offering).

Nftfy’s decentralized marketplace aims to solve the NFT valuation transparency issue. The platform will enable users to trade fractionalized components of NFTs which will add a significant amount of liquidity to the market. The added liquidity will allow for much more accurate NFT valuations in real-time.

Nftfy also allows legal, contractual agreements via the Lex Cryptographic methodology and employs legal, contractual concepts via Smart Contracts, which would provide guaranteed rights to the NFT holder.

Nftfy tokens have 6 years vesting distribution schedule, which shows the team's long-term commitment to make this project a success. The Team consists of experienced developers who have been involved with blockchain startups in the past.

Nftfy is expanding NFT horizons by bridging loans, derivatives, insurance, basically the DeFi ecosystem to this space. We support this ambitious project and have high expectations from the team.

TOKEN UTILITY

$NFTFY is the utility token of Nftfy Ecosystem. $NFTFY token serves multiple utility purposes in the ecosystem.

Collateral: $NFTFY token acts as the liquidity base (collateral) for these new Fractions that seek recognition in the Liquidity Pools. Each pool created must have $NFTFY in its composition to participate in our rewards mechanisms and be listed in the “Pools” section.
Liquidity Provider rewards: All liquidity providers will be eligible to participate in the liquidity mining program, distributed over six years.